Stocks Rally on Merger News Lifts Nasdaq to 15 Month High
Wall Street extended its rally with merger announcements boosting the Dow 6.30 to 9,223.09 and the Nasdaq up 25.75 to 1,746.46. Advancers outpaced decliners about 4 to 3 on the NYSE as volume reached 1.97 billion shares.
MENTIONED IN THIS ARTICLE
Wall Street
Hugh Johnson
First Albany Corp
Dow Jones
New York Stock Exchange
Yellow to buy Roadway in $966 million deal
Yellow Corp. agreed to acquire rival Roadway Corp. for 966 million dollars in cash and stock, aiming to preserve both brands while cutting back office costs and adding about 45 million in savings by year two. Roadway shares jumped while Yellow fell on the Nasdaq.
MENTIONED IN THIS ARTICLE
Associated Press
Yellow Corp
Roadway Corp
Yellow Roadway Corp
Yellow
Bill Zollars
Zollars
International Brotherhood of Teamsters
Gregory Burns
J.P. Morgan
Roadway
Rockwell Collins Wins Navy Contract for Antenna Tensioners
Rockwell Collins of Cedar Rapids secured a 4.5 million dollar U.S. Navy contract from the Naval Air Systems Command to supply antenna tensioner reeling machines. The devices reel trailing wire antennas up to 28 000 feet for a high power VLF LF transmit set on the ABNCP TACAMO fleet. Initial deliveries will be limited with options to add five more units potentially raising the value above 10 million and the period runs through 2005.
MENTIONED IN THIS ARTICLE
Rockwell Collins
Cedar Rapids
U.S. Naval Air Systems Command
U.S. Navy
Alliant Energy stock offering raises 318.4 million
Alliant Energy completed a public stock offering raising 318.4 million from 17.25 million shares at 19.25 each. Underwriters Banc of America Securities and Merrill Lynch co-led the sale with overallotment options exercised for 2.25 million shares. Principal Financial Group files second Enron fraud lawsuit.
MENTIONED IN THIS ARTICLE
Alliant Energy
Alliant Common
Banc of America Securities LLC
Merrill Lynch & Co
Principal Financial Group Inc
Enron Corp
Principal Global Investors LLC
Principal Life Insurance Co
Polk County District Court
J.P. Morgan Chase & Co
Enron
Gazette
Self-storage and Penske truck rental planned for Cedar Rapids complex
Green Acres Storage LLC will open the first of eight buildings at 5315 J St SW, Cedar Rapids, housing 106 units with 53 climate controlled lockers and a central hallway. The development includes a Penske truck rental operation serving business clients needing records and inventory storage.
MENTIONED IN THIS ARTICLE
Dave DeWitt
Gazette
Cedar Rapids
Penske
Green Acres Storage LLC
Seth Green
J St
Green
Kelly Green Motors
Blairs Ferry Rd
Keota's Last Grocery Store May Reopen After Auction Cancelled
Keota residents had planned a liquidation auction for the town's sole grocery but a prospective operator stepped in. Building Investors Inc. previously raised funds to buy and renovate the store, and Roger Westendorf briefly operated Roger's Market before closing. GSBI organizers hope a reopening by Aug. 1 depends on financing and distributor deals.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Keota
Victory Grocery Store Building Investors Inc
GSBI
Roger Westendorf
Westendorf
Steve Sheetz
Sheetz
Roger
the Gazette
Consolidated Freightways Terminal Auctions Set for July 17
Consolidated Freightways sells its Cedar Rapids Burlington and Des Moines terminals in an open auction July 17 after bankruptcy. Cedar Rapids 41 door cross deck on 3.96 acres with 450000 price. Burlington 16 door cross dock on 5.0 acres priced 135000. Des Moines 27 door on 4.31 acres priced 400000. Facilities employ dozens and form part of a 220-property, 400 million dollar sale.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette Consolidated Freightways
Cedar Rapids
Burlington
Des Moines
J St
Mount Pleasant St
Consolidated Freightways
E. 17Th St
Bidders Needed for CF Terminals Auction After Bankruptcy
Online forms must be submitted to qualify as bidders by July 17 for the Consolidated Freightways auction of its terminals. The Cedar Rapids terminal requires a $45,000 deposit, Des Moines $40,000, and Burlington $20,000, with 100 properties sold nationwide for $218 million.
MENTIONED IN THIS ARTICLE
Vancouver, Wash
Consolidated Freightways
United States
Cedar Rapids
Des Moines
Burlington Warehouse
Federal appeals court rules beef checkoff unconstitutional
A federal appeals court in Sioux Falls ruled that the Beef Promotion and Research Board must stop the $1 per head cattle fee supporting the national marketing campaign. The 8th U.S. Circuit affirmed a 2002 ruling that the program violates First Amendment rights by forcing producers to fund messaging they disagree with. The decision bars continued collection and signals possible Supreme Court appeal.
MENTIONED IN THIS ARTICLE
Sioux Falls
S.D
8Th
U.S. Circuit Court of Appeals
U.S
Charles Kornmann
South Dakota
U.S. Department of Agriculture
Cattlemen’s Beef Promotion and Research Board
United States
Agriculture Department
Appeals
Appeals Court
Kornmann
United States. Half of That Money Goes To the Cattlemen's Beef Promotion
Ocera
Monte Reese
Cattlemen's Beef Board
U.S. Supreme Court
Agriculture
Ann Veneman
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